Anna and Solomon have sound answers in the broad sense, but they are in very different markets from the Georgia Mountains where many homes are vacation/second rather than primary.
I'm assuming you have a Buyers Agent? If so I have no desire to "steal" you from her/him, but if you are dealing with a listing agent, I may be able to help you.
Dixon Gary Realty
I agree with Anna. You would typically start with comparable home sales in the same area (high school cluster, zip code, neighborhood, etc.) and then factor in the condition of the property (age, fixtures, etc.) to arrive at an appropriate offer. Buyers should work with their on agent in real estate transactions anyway, but it is of much greater importance with older homes. Please check ask your agent for the comps and an appropriate offer for this property.
REALTORÂ® Keller Williams Realty Atlanta Partners